Factors of production - SS1 Commerce Past Questions and Answers - page 1
1
Which factor of production refers to natural resources?
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A
Land
B
Labor
C
Capital
2
Which factor of production represents human effort?
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A
Land
B
 Labor
C
Capital
3
What does capital refer to in the factors of production?
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A
Natural resources
B
Human effort
C
Man-made resources
4
Who takes the initiative to organize the factors of production and run a business?
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A
 Entrepreneur
B
Labor
C
Capital
5
Which factor of production involves the risks and decision-making for production?
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A
Entrepreneur
B
Capital
C
Labor
6
What encompasses labour as a factor of production?
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7
Who takes on risks and makes decisions in the production process?
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